Houston Based Cabot oil & gas Corp. shed 1.39% to $17.75 Thursday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 1.06% to 4,159.12 and the Dow Jones Industrial Average DJIA rising 0.55% to 34,084.15.
Cabot oil & gas Corp. closed $4.92 below its 52-week high ($22.67), which the company achieved on June 9th. The stock underperformed when compared to some of its competitors Thursday, as EOG Resources Inc. EOG fell 0.02% to $80.52. Trading volume (4.9 M) remained 1.2 million below its 50-day average volume of 6.1 M.Houston based Oil & Gas Corp. revealed earnings for its first quarter that increased from last year. The company’s bottom line totaled $126.35 million, or $0.32 per share. This compares with $53.91 million, or $0.14 per share, in last year’s first quarter.
Cabot oil & gas Corp. reported adjusted earnings of $149.96 million or $0.38 per share for the period.Analysts had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items. The company’s revenue for the quarter rose 18.9% to $459.68 million from $386.46 million last year.
Quarter 1 Earnings are $149.96 Mln and $54.04 Mln. last year. EPS is $0.38 vs. $0.14 last year. Analysts Estimate $0.35. Revenue (Q1): $459.68 Mln vs. $386.46 Mln last year. Natural gas price realizations, including the impact of hedges, are expected to be $1.90 per thousand cubic feet (Mcf) in the fourth quarter of 2020.